Syntel, Inc. (SYNT) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Syntel, Inc. (NASDAQ:SYNT) released its earnings results on Thursday. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. Syntel had a positive return on equity of 28.09% and a negative net margin of 3.17%. The firm earned $237.90 million during the quarter, compared to analysts’ expectations of $236 million. During the same quarter last year, the business posted $0.88 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. Syntel updated its FY17 guidance to $1.75-2.00 EPS.
Shares of Syntel (NASDAQ:SYNT) opened at 19.26 on Friday. The company’s market capitalization is $1.62 billion. Syntel has a 1-year low of $18.00 and a 1-year high of $50.92. The stock has a 50 day moving average price of $21.06 and a 200 day moving average price of $28.63.
Several analysts recently issued reports on the company. Vetr cut Syntel from a “strong-buy” rating to a “buy” rating and set a $25.81 target price for the company. in a research report on Thursday. Cantor Fitzgerald reiterated a “hold” rating and set a $23.00 target price on shares of Syntel in a research report on Thursday. Needham & Company LLC cut their target price on Syntel from $48.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, October 21st. TheStreet cut Syntel from a “hold” rating to a “sell” rating in a research report on Thursday, October 20th. Finally, SunTrust Banks, Inc. cut Syntel from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research report on Monday, October 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $30.18.
In other news, Director Vinod Kumar Sahney acquired 2,500 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was bought at an average cost of $19.41 per share, for a total transaction of $48,525.00. Following the purchase, the director now owns 7,923 shares in the company, valued at $153,785.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paritosh K. Choksi acquired 20,000 shares of the business’s stock in a transaction on Monday, November 21st. The shares were purchased at an average price of $19.50 per share, with a total value of $390,000.00. Following the completion of the purchase, the director now owns 58,272 shares in the company, valued at approximately $1,136,304. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 32,882 shares of company stock valued at $644,846. 61.80% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the company. US Bancorp DE raised its stake in Syntel by 60.3% in the third quarter. US Bancorp DE now owns 2,760 shares of the company’s stock valued at $115,000 after buying an additional 1,038 shares during the period. Pacer Advisors Inc. raised its stake in Syntel by 14.7% in the third quarter. Pacer Advisors Inc. now owns 3,428 shares of the company’s stock valued at $144,000 after buying an additional 439 shares during the period. Aperio Group LLC raised its stake in Syntel by 3.8% in the third quarter. Aperio Group LLC now owns 6,242 shares of the company’s stock valued at $262,000 after buying an additional 229 shares during the period. Global X Management Co. LLC purchased a new stake in Syntel during the third quarter valued at approximately $266,000. Finally, SG Americas Securities LLC purchased a new stake in Syntel during the third quarter valued at approximately $281,000. Institutional investors own 34.30% of the company’s stock.
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Syntel Company Profile
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry.
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